Cook is hooked by $383.6 Million Handcuffs

Apple has already offered $383.6 million to Tim Cook, locking him up till 2021.

For another decade the new Apple CEO wont be going anywhere. According to the form filed by Apples board of directors with the US Securities and Exchange Commission, the companys CEO, Tim Cook, has been granted 1 million restricted stock units. Half of Cooks shares will vest August 24, 2016. The other half will vest August 24, 2021.

In the filing Apple said, Mr. Cook brings to the Board extensive executive leadership experience in the technology industry, including the management of worldwide operations, sales, service and support.

The Friday's closing price of Apples shares was $383.58. If this price were taken as criteria then the cash value of Cook's compensation would be above $383.6 million. Cook has already received a salary last year of $800,000 plus a bonus of $900,000 for serving as Apple's chief operating officer.

It was on Wednesday that Tim Cook replaced Apples co-founder Steve Jobs as Chief Executive Officer. After taking over as CEO, in a letter to Apple employees, Cook wrote, I want you to be confident that Apple is not going to change. I cherish and celebrate Apple's unique principles and values. Steve built a company and culture that is unlike any other in the world and we are going to stay true to thatit is in our DNA. We are going to continue to make the best products in the world that delight our customers and make our employees incredibly proud of what they do.

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